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Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
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“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
Wednesday, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
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- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Planning Commission, India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
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